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The company has been looking at the performance of stores on a case-by-case basis to determine which stores are not performing to the standards of the company, which started in 1889 as The Washington National Building Loan and Investment Association.

Washington Mutual has approximately 2,600 branches nationwide, with nine under construction, including one in Denver. As of March, the company posted assets nearing $350 billion. Its stock is selling at almost $42 per share.